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Author: Jordan Khoo   |   Latest post: Thu, 14 Feb 2019, 10:06 AM

 

SKPRES: A Good Value Buy

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In QE30/9/2018, SKPRES's net profit rose by 9.2% q-o-q but declined by 19.9% y-o-y to RM28.1 million. Its revenue rose by 10.9% q-o-q but declined by 19.7% y-o-y to RM477 million. Its profit before taxation also increased by 9.4% from RM33.5 million to RM36.6 million as a result of higher sales during this quarter. (Note: The result for QE30/9/2018 was released on November 29, 2018.)

Table: SKPRES's last 8 quarterly results
 
As at 30/9/2018, SKPRES's financial position is deemed very healthy with good current ratio at 2.3x while gearing ratio improved to 0.5x.

SKPRES (closed at RM1.03 last Friday) is now trading at a PER of 11.3 times (based on last 4 quarters' EPS of 9.1 sen). At this PER, SKPRES is deemed very attractive after a decline of 55% from its peak of RM2.30 in February 2018.

SKPRES has broken below its long-term uptrend line, SS at RM1.40 in June 2018. Despite a strong rebounce that sent the share price above the uptrend line again in July 2018, the stock failed to stay above the uptrend line. It is now resting on the strong support from the horizontal line at RM1.00.


Chart: SKPRES's weekly chart as at Jan 4, 2019 (Source: Malaysiastock.biz)


Based on my opinion, albeit weaker financial performance, good financial position and attractive valuation, SKPRES could be a good stock to consider for long-term investment. while bearish technical outlook may lead to further price weakness, ant but any recovery in earnings can also lead to a quick recovery for a deeply beaten down stock.
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Labels: SKPRES

Related Stocks

Chart Stock Name Last Change Volume 
SKPRES 1.35 -0.01 (0.74%) 1,500,200 

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